Investment Objective The investment seeks maximum long-term return, consistent with prudent investment management.
The fund seeks to achieve its investment objective by investing at least 80% of its assets in a portfolio of mortgage-related assets, including, but not limited to Agency residential and commercial mortgage-backed securities and private label residential and commercial MBS, which may be represented by forwards or derivatives such as options, futures contracts or swap agreements. The average portfolio duration of this fund normally varies from (negative) 1 year to positive 8 years based on PIMCO's forecast for interest rates.